At that value, the Cubs saved nearly $1.5 million in their pool of bonus money, according to MLB.com senior writer Jim Callis, which can now be used to further entice other draftees that they want to sign.

W/Schwarber, @Cubs get best college bat in @MLBDraft & save $1,496,200 vs pick $ at 4. He gets more than $ in teens, where projected to go.

Under MLB’s draft system, teams only have an alloted pool of money to spend, with each pick in the draft getting a “slot” value. If a team signs a player under his slot value, they can use that money to sign other players over slot value.

In the Cubs’ situation, they drafted several high-upside high school pitchers who are committed to colleges and may be difficult to sign, and that extra money could go toward them.

The 21-year-old Schwarber, a catcher/outfielder, was considered the top collegiate hitter in the draft after posting a slash line of .358/.464/.659 with 14 homers and 48 RBIs last season at Indiana. He will report to short-season Single-A Boise, which opens its year Friday.